ECO 2013 Macroeconomics
Scope of the course:
Economics is an often misunderstood and sometimes
maligned subject. For instance, economics is often called the "dismal
science". The wisdom of economists is nearly proverbial, but in a
negative sort of way. Despite this prevailing prejudice, economics does
have useful lessons for understanding the world around us and the
purpose of the two-course series is to contribute to this understanding.
The two courses in the economic sequence are aimed at providing a basic
level of sophistication in economic matters that will help explain both
the U.S. and the increasingly important global economies.
The sequence is divided into two parts or courses. One
is the macroeconomics part (emphasizing how governments act to constrain
or release economic forces). The second part of the sequence deals with
the topics of microeconomics (how individuals and businesses operate in
the context of supply and demand).
The topics of the two courses combine to explain, and
relate to one another, the terms you frequently encounter in newspapers,
both on the front page and in the business section: supply and demand,
interest rates, wages, financial markets, public goods versus private
interests, regulation and deregulation, unemployment, the poverty level,
inflation, trade balances, budgets and deficits, taxation, exchange
rates, and the "global economy".
However, economics is about much more than the
relatively "dry" sounding topics mentioned above. Economics is about a
way of thinking. It is a structured and disciplined way of looking at
our world and the behavior of the people in it with whom we must
interact. The principles of economics can be applied in many areas other
than business or making money. At the macroeconomic level it is a method
of analysis that helps us understand things that affect real people in
real and often tragic ways. For instance, in New York City there are
abandoned buildings containing four times as many dwelling units as
there are homeless people. Yet, homeless people sleep on the sidewalks
in winter. In many third-world countries, people are hungry despite vast amounts
of the rich farmland. Why did
unemployment reach 25% and American corporations as a whole operate in
the red for two consecutive years during the Great Depression of the
1930s? Why is the current unemployment rate at 9% and the Federal debt
at $15 trillion and what should the Federal government be doing to
reduce both?
Should the Congress pass a tax cut? Raise minimum wages? How much? What about the
Social Security program? Should we privatize it as some other countries
have done? Should we enact universal health care? What are the economic
consequences of the War on Drugs? What have been the economic
consequences of 9/11, the War on Terrorism, the increase in gas prices, and illegal immigration?
What caused the great financial crash and the current recession? How have they affected
you and why? What do these changes portend for you as a college student
soon to become a working professional? As a citizen? These and many
other problems can be analyzed from an economic perspective. Indeed,
they must be analyzed, in part, from an economic perspective if we, as a
society, are to arrive at solutions that will be effective.
Understanding the basic economic principles that are used to analyze
these issues is the goal of this course.
Syllabus
- provides you with the information needed to complete this course
successfully.
For help studying economics there are tutors in the
library at Valencia East Campus on Econlockhatchee Trail and you can use online sources such as
tutor2u,
About.com,
Economics Help,
Finding Dulcinea. I advise you to check them out!
Economics Literacy Test
Minneapolis Federal Reserve Bank
Council for Economic
Education
Procedures for accessing and registering for McGraw-Hill Connect.
McGraw-Hill Connect: Click on the link to your course
below to register.
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Colonial High School - ODD
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Colonial High School - EVEN
Below are links to the PowerPoint
Presentations I will use in this course. You are welcome to review
and print them out before class if you would like.
Extra Credit Opportunity
Stress Test - take
this simple test to see if you need a short vacation!
How much
is a billion? How much is a trillion?
Five Minute University
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